Frontline Q1 2026 Earnings: Record $559M Profit, $1.55 Dividend, and Fleet Renewal Strategy

Frontline plc reported strong first quarter 2026 results with a profit of $559.1 million ($2.51 per share) and adjusted profit of $344.9 million ($1.55 per share), the strongest since Q4 2004. The company declared a $1.55 per share dividend and reported revenues of $714.2 million. Key operational highlights include the sale of eight older VLCCs generating a $210.9 million gain, acquisition of nine new ECO VLCC newbuildings from Hemen Holding for $1.224 billion, and sale of two older Suezmax tankers for $140 million. Frontline secured $737 million in new financing for fleet renewal and $237.5 million for debt refinancing. The company's fleet renewal program will increase its VLCC count to 42 vessels, maintaining one of the industry's youngest and most energy-efficient fleets with an average age of 7.5 years.